Verus Capital Partners LLC Sells 8,200 Shares of Cameco Corporation $CCJ

Verus Capital Partners LLC lowered its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 54.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,836 shares of the basic materials company’s stock after selling 8,200 shares during the quarter. Verus Capital Partners LLC’s holdings in Cameco were worth $507,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CCJ. Nwam LLC grew its holdings in Cameco by 11.7% during the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock worth $6,304,000 after acquiring an additional 8,519 shares during the last quarter. Samalin Investment Counsel LLC raised its stake in shares of Cameco by 5.6% during the second quarter. Samalin Investment Counsel LLC now owns 5,535 shares of the basic materials company’s stock valued at $411,000 after acquiring an additional 296 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of Cameco during the second quarter worth $237,000. Allworth Financial LP grew its stake in shares of Cameco by 30.6% in the second quarter. Allworth Financial LP now owns 4,524 shares of the basic materials company’s stock worth $336,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in Cameco in the second quarter valued at $260,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Down 1.9%

NYSE CCJ opened at $92.49 on Wednesday. The stock has a market capitalization of $40.27 billion, a P/E ratio of 106.31 and a beta of 0.98. The business has a 50 day simple moving average of $87.41 and a 200 day simple moving average of $74.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. Cameco Corporation has a one year low of $35.00 and a one year high of $110.15.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The business had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. Cameco’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. Cameco has set its FY 2025 guidance at EPS. Research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be paid a dividend of $0.24 per share. This is a boost from Cameco’s previous annual dividend of $0.12. This represents a yield of 25.0%. The ex-dividend date of this dividend is Monday, December 1st. Cameco’s payout ratio is currently 19.77%.

Analysts Set New Price Targets

Several research analysts have commented on the company. The Goldman Sachs Group lifted their target price on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Raymond James Financial lifted their price objective on Cameco to $150.00 in a research note on Wednesday, October 29th. TD Securities reiterated a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Cameco in a report on Wednesday, October 8th. Finally, UBS Group initiated coverage on shares of Cameco in a research report on Monday. They issued a “neutral” rating and a $140.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.04.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.